Traders Purchase Large Volume of Call Options on Core Scientific (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) was the target of unusually large options trading activity on Friday. Stock traders acquired 52,321 call options on the company. This is an increase of approximately 14% compared to the typical volume of 45,847 call options.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the transaction, the chief financial officer now directly owns 122,217 shares in the company, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the second quarter worth approximately $28,000. Aspect Partners LLC purchased a new position in Core Scientific during the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the 2nd quarter valued at $33,000. Hexagon Capital Partners LLC acquired a new stake in Core Scientific during the 1st quarter valued at $34,000. Finally, Rise Advisors LLC purchased a new stake in shares of Core Scientific in the second quarter valued at $65,000.

Core Scientific Stock Up 10.4 %

Shares of Core Scientific stock opened at $13.22 on Friday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $13.29. The business’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $7.87.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts predict that Core Scientific will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CORZ shares. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price target on shares of Core Scientific in a research report on Friday. BTIG Research lifted their price target on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Canaccord Genuity Group began coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, October 3rd. Finally, HC Wainwright increased their price target on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific currently has an average rating of “Buy” and an average price target of $15.27.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.